Alstom has joined the European Business Association of Kazakhstan (EUROBAK) in line with its strategy to build long-term partnerships in the country and use the unique opportunity to contribute to the dialogue between European companies, and the Kazakhstan authorities and business community.
Alstom has been investing in Kazakhstan since 2010, having established two joint ventures with Kazakhstan Railways (KTZ): EKZ for the manufacture and maintenance of electric locomotives and KEP for the manufacture of point machines. Alstom also intends to acquire an additional 25% of KTZ’s stake in EKZ, bringing its total share to 50% as per an agreement between the companies signed in December 2014.
“We have always appreciated the opportunity to work in Kazakhstan’s attractive investment environment. With the creation of a new generation of innovative trains and hi-tech products, Alstom further improves its global expertise and experience, supporting the country’s ambition to become the hub of future transport corridors between Europe and Asia,” said Bernard Peille, Managing Director Alstom Transport Kazakhstan.
“Joining EUROBAK will enable us to contribute to the dialogue between Kazakhstan and the European business community, to build new relations, to stay abreast of the latest trends in the market and to share our expertise with the local business, with a view to assisting Kazakhstan’s modernisation and industrialisation policy,” he added.
EUROBAK, a non-commercial organisation, was established in 1999 on the joint initiative of European companies and the Delegation of the European Union. EUROBAK membership is made up of almost 150 companies including well-known European, Kazakh and international companies, as well as diplomatic missions from Europe and other countries.
Photo: Alstom
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